Drought conditions in the U.S. and elsewhere are behind the tight supplies and price gains for a wide range of commodities, including oats, wheat, soybeans, coffee and even livestock.
Prices are skyrocketing on a number of consumer staples and breakfast items — everything from coffee to milk — as companies try to offset surging costs due to supply constraints and production challenges. And relief may not be coming anytime soon.
Commodities hurt by drought include wheat, oats, barley, coffee, sugar, corn, and livestock. All of this is contributing to food-price inflation.